Pension Pal

Essential tool for anyone who is... ...currently receiving the Age Pension ...applying for the Pension ...approaching Pension age (within 0-15 years) ...wanting to maximise their Pension to optimise their overall Financial position ...performing Estate Planning ...wanting to assist a parent, grandparent, or Financial Services client ** PURPOSE ** Pension Pal has been created to assist individuals or couples of Pension Age in determining the Age Pension Payment they are eligible for, or could be eligible for in the future. It has features that can help maximise retirement Income by getting the most out of the Pension for your specific financial situation. It has also been created for the potential use of Financial Advisors, Estate Planners, etc., to use the detailed information shown within the App to help support clients. It may be a very useful tool for Estate planning decisions. Once a person reaches Pension age, Estate planning choices are reduced, in regards to trying to access or maximise the Age Pension. A tool such as Pension Pal is of particular benefit when first used a few years before Pension age is reached, when there is more scope to legitimately act upon the information and make plans or changes that will maximise the Pension for the future. The App may also be used to provide a level of confidence that a Pension Payment already being received from Centrelink is correct, or to predict the effect certain changes in circumstances will have on a Pension Payment, prior to the circumstances changing. ** WHAT IT DOES ** Pension Pal takes the details of an individual or couple's Relationship status, Homeowner status and financial status (i.e. Assets & Income) and calculates a highly accurate estimate of the eligible Age Pension Payment. In simplistic terms Pension Pal is a Pension calculator, but it provides much more. There are other basic Pension calculators available online which give limited rough payment estimations and there is also the Government website itself, but Pension Pal is way ahead in what it provides, how quick and easy it is to use and the value-add features it has which place it far above a simple Pension calculator. Pension Pal shows what percentage of the full payment individuals are eligible to receive. It shows how much impact Assets and/or Income are having on the payment. It breaks the payment down into its constituent parts of 'Base', 'Pension Supplement', 'Energy Supplement' & 'Rent Assistance' (where applicable) payments. It has easily understandable bar charts which breakdown the impact of Assets & Income further into the separate categories of each. These charts clearly show any high impact Pension reduction categories of both Assets & Income. So it shows what the eligible payment is, but it also clearly shows WHY the payment is what it is. Instantly identifiable colour coding is used to highlight the level of the eligible payment, including ‘Limits Position Charts’ showing where you are on the scale between full payment, part payment and no payment. Pension Pal also goes further by utilising specially crafted algorithms to show the payment 'sweet spots' for Assets & Income levels. This feature helps transform Pension Pal from a Pension calculator into a retirement income maximiser. ** FEATURES ** * Easy to use interface with extensive in-App help easily accessible. * Updates to circumstances show the revised payment amount & details instantly. * Detailed information about the estimated eligible payment, including what factors are affecting the level of payment. Bar charts that breakdown the impact of Assets & Income into separate categories. Limits Position Charts showing where you are on the scale between full payment, part payment and no payment. * Custom crafted algorithms to show the Assets & Income 'Impact Points', or payment 'sweet spots'. * Comprehensive set of information about Pension limits and reduction rates. * Rent Assistance calculator seamlessly integrated.